No Surprises in Canada's Crop Report

VANCOUVER - Dec 8/05 - SNS -- There was nothing especially surprising about Statistics Canada's final crop production estimates for pulses and other specialty crops grown in Canada this year.

The numbers did not offer any bullish surprises, while bearish changes from previous reports had already been priced into markets.

This reflects the fact there seems to be a strong, bearish sentiment in the trade. Eyes roll and impatience builds over any suggestions there are reasons to believe shorting the market is getting to be a riskier strategy.

Statistics Canada pegged combined production of the major specialty crops, including field peas, at 5.343 million metric tons (MT), just 1,700 MT above production levels suggested by the October estimates.

There were some significant shifts within the sector, however, with increases in lentil and dry edible bean production offset by declines in field pea and other specialty crops.

Subscribers can read the full text of the article by Clicking here